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7. Problem 10.11 (WACC and Percentage of Debt Financing) eBook Hook Industries's capital structure consists solely of debt and common equity. It can Issue debt

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7. Problem 10.11 (WACC and Percentage of Debt Financing) eBook Hook Industries's capital structure consists solely of debt and common equity. It can Issue debt at rd9%, and its common stock currently pays a $3.25 dividend per share (Do- $3.25). The stock's price is currently $32.75, its dividend is expected to grow at a constant rate of 4% per year, its tax rate is 40%, and its WACC is 13.85%. What percentage of the company's capital structure consists of debt? Do not round intermediate calculations. Round your answer to two decimal places

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